Judge Denies Motion to Shield Sponsors of Controversial Report Against Evolution Gaming

The report, published in December 2021, accused Evolution of operating in prohibited jurisdictions, resulting in a significant drop in the company’s share price.

Background of the Calcagni Report

The Calcagni Report claimed that Evolution was conducting business in jurisdictions where it was not authorized, leading to a substantial impact on the live casino giant.

The publication of this report caused Evolution’s market capitalization to plummet by approximately 30%, translating to a loss of around $10 billion. In response, Evolution filed a multi-billion-dollar defamation lawsuit against C&K, seeking to identify the entities responsible for the report.

In 2021, the New Jersey Division of Gaming Enforcement examined the allegations and concluded that Evolution did not operate or benefit from operations in the prohibited jurisdictions mentioned in the report.

Despite this finding, the damage to Evolution’s market value and investor confidence had already occurred.

Legal Proceedings and Recent Developments

C&K had previously secured a court ruling in April where Judge Porto decided against revealing the sponsors of the report, citing the need for more evidence. This ruling was a significant victory for C&K, which continued to resist disclosing the identities of its clients behind the report.

Recently, C&K filed a new motion to ensure Evolution could not make further attempts to uncover the sponsors of the Calcagni Report. However, Judge Porto dismissed this motion as unnecessary, maintaining his position that Evolution must provide compelling evidence to justify such a revelation.

Evolution accused C&K of employing stalling tactics to delay the legal proceedings and hinder vital witness depositions. The court seemed to share Evolution’s frustration with the slow progress of the case, yet no decisive resolution appears imminent.